1. Field of the Invention
This invention pertains in general to payment transactions, and more specifically to tracking and managing payments by members of a group.
2. Description of the Related Art
Oftentimes, people engage in activities as a group. For example, a group of friends may go on vacation together, plan an event together, or go to dinner. When the group incurs a bill, typically one of the group members will pay the bill out of convenience and expects to be paid back by the other group members. However, some group members may not pay back their entire share of the bill or may forget and not pay back their share at all. This is unfair for the group member that paid the bill. Thus, there is a need in the art for an efficient way to track group expenditures and settle balances between group members.